China’s steel exports grow in Jan-Nov on weak domestic demand
According to statistics from the China Iron and Steel Association (CISA), China’s steel exports totaled around 82.7 million tons in the first 11 months of this year, increasing by 35.6% compared to the corresponding period a year ago.
In November alone, China exported 8 million tons of steel, a month-on-month increase of 3.2%.
The growth in China’s steel exports was mainly due to its relatively competitive prices and the weak demand in the domestic market.
In terms of imports, China’s steel imports amounted to nearly 7 million tons in the first 11 months of this year, a year-on-year decrease of 29.3%. The import volume in November was 614,000 tons, a month-on-month decrease of 8%.
China’s steel exports were expected to rise by 10% year on year this year, reaching above 72 million tons.
